B. Riley upgraded shares of II-VI (NASDAQ:IIVI) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat reports. The brokerage currently has $55.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $40.50. B. Riley also issued estimates for II-VI’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.26 EPS, Q1 2020 earnings at $0.71 EPS, Q2 2020 earnings at $0.83 EPS and FY2020 earnings at $3.14 EPS.
Other research analysts have also issued reports about the company. BidaskClub upgraded II-VI from a hold rating to a buy rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded II-VI from a hold rating to a buy rating and set a $50.00 target price for the company in a research note on Tuesday. Piper Jaffray Companies began coverage on II-VI in a research note on Tuesday, February 13th. They issued an overweight rating and a $50.00 target price for the company. Craig Hallum cut their target price on II-VI to $53.00 and set a buy rating for the company in a research note on Friday, February 2nd. Finally, Northland Securities lowered II-VI from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $53.67.
Shares of II-VI (NASDAQ IIVI) opened at $43.00 on Tuesday. II-VI has a 12-month low of $27.25 and a 12-month high of $53.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71. The firm has a market capitalization of $2,852.51, a P/E ratio of 32.58, a PEG ratio of 1.70 and a beta of 0.12.
In other II-VI news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $47.34, for a total transaction of $378,720.00. Following the completion of the transaction, the chief executive officer now directly owns 260,335 shares in the company, valued at $12,324,258.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. First Commonwealth Financial Corp PA acquired a new position in II-VI during the fourth quarter worth $498,000. Pier Capital LLC acquired a new position in II-VI during the fourth quarter worth $6,063,000. MetLife Investment Advisors LLC acquired a new position in II-VI during the fourth quarter worth $1,259,000. Metropolitan Life Insurance Co. NY acquired a new position in II-VI during the fourth quarter worth $897,000. Finally, Macquarie Group Ltd. raised its stake in II-VI by 10.3% during the fourth quarter. Macquarie Group Ltd. now owns 803,299 shares of the scientific and technical instruments company’s stock worth $37,715,000 after acquiring an additional 75,052 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.
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II-VI Company Profile
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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